Service guarantees - Terms and Conditions

Property Tenanted, or we’ll pay!  

1. If Property Brokers have not found a tenant for your property within 28 days of your property being available for renting, we will pay the rent at the market rate as determined by us so long as:

a. Renting the property would not breach any of the obligations imposed on landlords under the Residential Tenancies Act 1986 (“RTA”), as determined by Property Brokers which includes, but is not limited to:

ii. The property complying with all requirements in respect of buildings, health and safety under any enactment so far as they apply to the property, including, but not limited to, meeting all healthy homes standards and regulations in respect to smoke alarms; and

iii. The property being in a reasonable state of cleanliness and repair having regard to the age and character of the property and the period during which the property is likely to remain habitable and available for residential purposes.

b. The property is insured to the satisfaction of Property Brokers and the owner has provided Property Brokers with a copy of the current insurance policy and all information required to complete the Property Insurance clauses at page 1 of this Agreement.

c. The owner is not in breach of any obligations under their insurance policy in respect of the premises.

d. There are no restrictions on personal movement both nationally or regionally for any reason including (but not limited to) as a result of any natural disaster, any act of any government or competent authority, inclement weather, any declaration of a state of emergency or any other cause, impediment or circumstance that is beyond the reasonable control of Property Brokers.

e. The owner shall advise Property Brokers if they have obtained or intend to have the property tested for methamphetamine or for any other contaminant considered to be a health risk and provide to Property Brokers a copy of the test results and the owner shall also have the property tested for methamphetamine or for any other contaminant considered to be a health risk at the owner’s cost at the request of Property Brokers. The provisions of this guarantee shall not apply until a result showing that there is no health risk is provided to Property Brokers.

f. The owners shall list the property at a current market rent as determined by Property Brokers and the owner must allow that rent to be reduced as necessary to meet the current market conditions which includes, but is not limited to, factors that limit the appeal of the property such as location, neighbours, suburb, etc.

2. Property Brokers will not have to pay any money under this guarantee if the Property Management Authority Agreement ends or the property no longer qualifies as a compliant residential tenancy under the proceeding provisions.

3. This guarantee expires on the date that an owner rejects an application for tenancy recommended by Property Brokers or if the owner accepts an application within 28 days for the tenancy where the tenant is unable or unwilling to take occupation of the property after that date.

4. The property must meet the cleanliness standards set out in the Residential Tenancies Act 1986 (“RTA”). The property must be reasonably clean, tidy and in a ‘lettable condition’ (as determined by Property Brokers) prior to the commencement of marketing.

5. The following criteria will be part of the definition in determining whether or not the property is in a ‘lettable condition’.

a. The property has photoelectric’ smoke alarms that are within 3 meters of all bedrooms.

b. The property meets the Insulation Regulations 2016

c. The property meets the Healthy Homes Standards introduced in 2019.

d. The owner has provided Property Brokers with satisfactory Insurance information.

e. Whether the property meets the minimum requirements of the RTA in any respect.

f. The property is consented, remedial work that has been completed is consented and all liveable areas on the property meet the requirements of the Residential Tenancies Act.

g. The property is not deemed to be a Health and Safety risk.

h. The property is not on the market for sale and the owner does not intend to sell the property within 12 months of the date the owner instructs Property Brokers to list the property for rent. The owner must, at the request of Property Brokers, pay to Property Brokers any money paid to them under this guarantee if the property is sold within that 12-month period.

i. There are no external factors beyond Property Brokers’ control that will limit Property Brokers’ ability to tenant the property e.g. Covid Ministerial orders or other factors limiting the appeal of the property, such as the location, neighbours, suburb, etc.

6. The property must be listed at a current market rate as determined by Property Brokers, and the owner must allow the rent to be reduced as necessary to meet the current market conditions.

7. If the property is still vacant after two months, the owner agrees to review the service guarantee with Property Brokers and consider a new strategy to find a tenant or refer the property to Property Brokers for sale.

8. Property Brokers reserves the right to terminate the Service Guarantee at any time if unforeseen circumstances or events occur that affect the guarantee.

9. As defined under section 2(1) of the Residential Tenancies Act 1986, The period commencing 24th of December and expiring with the 3rd of January is defined as not being a working day. Property Brokers shuts down during this period therefore this is excluded from the Guarantee period.

10. The Service Guarantee expires should an owner reject an application for tenancy recommended by Property Brokers or if the owner accepts an applicant for the tenancy where the tenant is unable or unwilling to take occupation of the property within the 28 days from the date of signing any tenancy agreement.

11. If the property remains vacant for 28 days after being available to Property Brokers, then Property Brokers will reimburse the owner for rent lost from day 29 until a suitable tenant is found for the property.

 No rent arrears, or we’ll pay! If:

1. The rental property was initially let by Property Brokers; and

2. The rental property has a 4-week bond lodged with the Bond Centre; then

3. The arrears guarantee ensures that each month, the owner will receive the monthly expected transfer based on the weekly rental rate if the tenant is in rental arrears.

4. The arrears guarantee is for rental payments only. This does not include arrears for utilities, remedial work or any other scheduled payment as outlined within the Tenancy Agreement.

5. During a tenancy, when Guaranteed Rent payments have been made by Property Brokers and rent is recouped from the tenants, this rent money will be refunded back to Property Brokers in the first instance.

6. Property Brokers must be able to conduct the rental arrears process using our normal rent arrears procedures; and

7. This Service Guarantee relates only to rent arrears and does not include compensation for property damage or loss in property value.

8. At the end of the tenancy and when Guaranteed Rent payments have been made by Property Brokers any monies paid by the tenant either by direct payment or a bond refund will be refunded back to Property Brokers in the first instance. A bond refund in any form will have the rent paid before any other property expenses.

9. Property Brokers reserve the right to utilise the services of a debt collection agency, and any amount collected will initially be paid to Property Brokers where, if applicable, Guaranteed Rent is refunded.

Great service, or we’ll pay! If:

1. If our services disappoint you, simply tell us, and if we cannot resolve the service issue, we will refund your last month’s management fee as follows:

2. The owner must advise us in writing that they have a problem; and

3. Property Brokers expects to be able to resolve the problem within 14 days; and

4. If Property Brokers does not resolve the problem within the 28 days: then

5. Property Brokers will refund the last month’s management fee.

The Service Guarantees are included within both the ‘exclusive’ and ‘inclusive’ management packages from the 1st of November 2019 onwards. Clients that opted for a package preceding this date that did not include the Service Guarantees, shall continue under the original terms of the Management Authority.

Service Guarantees are offered only to clients that opt for full management of a ‘residential’ property only. For any existing clients that do not currently have Service Guarantees, they can opt to have this service included if they move to the new packages.

Service Guarantees are available across Property Brokers Branches.